Kasinathan Insurance Consultant

Product Summary:

LIC New Bima Bachat is a participating non-market-linked Moneyback, savings cum protection plan, where premium is paid in lump sum at the outset of the policy. LIC Bima Bachat plan details would help help you to invest your hard earned money under this policy.  LIC Bima Bachat is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. Under Bima Bachat plan, on maturity, the single premium shall be returned along with Loyalty Addition, if any.

Minimum age:15 years (Completed)

Maximum age:66 years for 9 years term
                         63 years for 12 years term
                         60 years for 15 years term

Maximum maturity age:75 years

Premium term:9 years / 12 years / 15 years

Minimum Sum Assured:Rs.35,000 for 9 years term
                                         Rs.50,000 for 12 years term
                                         Rs.70,000 for 15 years term

Maximum Sum Assured:No limit

Premium payment:Single premium

Benefits:

Loan:Eligible after 1st year

Surrender:Eligible with immediate effect

On Death:Sum Assured (1st five years)
                 Sum Assured + Loyalty addition (After 5 years)

Income Tax Benefits:Premium paid is eligible for Tax rebate u/s 80c